A vast number of patients in the U.S. suffer from chronic wounds. Two of the largest categories of chronic wounds are diabetic foot ulcers (DFUs) and venous leg ulcers (VLUs). Approximately 1 million patients per year in the U.S. are reported to be suffering from DFUs and just under 900,000 U.S. patients each year are reported to suffer from VLUs. A recently published paper indicates that the median size of a DFU is approximately 1.35 square centimeters (sq. cm) and the median size of a venous leg ulcer is approximately 2.32 sq. cm. This published paper also indicates that 77% of DFUs and 66% of VLUs are 5 sq. cm. or less.
"The MiMedx EpiFix® allograft is extremely cost effective because it comes in sizes ranging from 1.5 square centimeters (sq. cm.) on up," stated Petit. "Our two major competitors have considerable waste factors associated with the use of their grafts. Each of these products is offered in only one size, approximately 40 sq. cm. each. It is quite evident that these products are significantly larger than these median wound sizes; in fact, they are 15 to 20 times larger. Consequently, the remainder of the graft is discarded or wasted since it is a single use product only."
"CMS has also extended the pass-through status of EpiFix®, which means that the method of reimbursement will remain unchanged through 2014, as it will continue to be reimbursed under the Average Sales Price (ASP) methodology, which is ASP + 6%. Therefore EpiFix® will continue to receive reimbursement in 2014 on a per square centimeter basis. In 2015, in the Hospital Outpatient and Ambulatory Surgical Center, the Company expects EpiFix® will be reimbursed as a part of a packaged rate in the higher tier of the two-tier system," added Petit.
"The publications presenting the clinical results of our competitors' two products and EpiFix® show that the clinical healing rates for wounds treated with EpiFix
|SOURCE MiMedx Group, Inc.|
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